In The News

Globalization: It’s an Inflation-Busting Superhero

Neil Reynolds June 6, 2006
Individual choices contribute to the speed of globalization: World trade accounted for 10 percent of gross world product in 1960 to 30 percent today. Foreign visitors increased, from two per every 100 people in 1960 to 15 per 100 in 2005. More than one third of the world relies on cell phones, and a billion people use the internet. Over the past 30 years, inflation has also decreased, and it is...

EU Faces Complications in Plan to Halt Migrants

Dan Bilefsky June 1, 2006
The proximity of Spain’s Canary Islands to the coast of West Africa has historically been a vantage point for European westward endeavors and explorations. Today, however, the islands and other EU border areas experience an influx of migrants from the south. During one week in May, more than 1,500 individuals arrived at the Canary Islands from several West African countries, overwhelming border...

Arcelor, Trying to Fend Off Suitor, Is Buying Russian Steel Company

Heather Timmons June 1, 2006
Arcelor is going to great lengths to avoid hostile takeover by Mittal Steel Company, even wooing a Russian billionaire who controls Servestal. If successful, an Arcelor-Servestal merger would create the world’s largest steel company in the world – moving Mittal to second place. Mittal is based in London and Rotterdam, yet Arcelor executives have turned to Aleksei Mordashov, describing him as a “...

Battle Over Steel Exposes Europe’s Globalization Dilemma

Jonathan Fenby June 1, 2006
Europe is polarized over globalization, unsure about whether traditions of ample social benefits can survive today's capitalism and competition from countries with low wages and labor standards. Yet consolidation through acquisitions is a trend for many industries, including steel, to reduce costs and increase economies of scale. Europe has long scooped up firms from around the globe, but...

Russia's Energy Diversification Moves

Vladimir Radyuhin May 31, 2006
Blocked from investing in Europe’s retail energy market, Russian firms seek other customers in Asia, including Japan and China. The nation has substantial natural gas and oil reserves, and Gazprom, Russia’s natural-gas firm, anticipates acquiring stakes in the EU distribution network. However, the EU has balked, expecting Russia to open its own energy markets and abide by western standards of...

Transcript of “The Disposable American: Layoffs and Their Consequences”

May 30, 2006
The following is a transcript of Nayan Chanda's interview with Louis Uchitelle, economics writer for “The New York Times” and also the author of “The Disposable American: Layoffs and Their Consequences,” conducted on May 11, 2006. – YaleGlobal

Chinese Influence in Brazil Worries US

Humphrey Hawksley May 24, 2006
The US has claimed the right to influence Latin America since the 1823 Monroe doctrine. Yet China diligently presents itself to the developing world, including Latin America, as a formidable model for ending poverty. Nations in South America like Brazil have taken notice, and the US can only fret about protecting the Americas as its turf. China continues to invest billions for infrastructure,...